There are more than 9,700 pages of the federal tax code.
The need to remain current in the relevant detail, even for just one industry or sector, is a daunting task. We offer extensive industry and tax experience delivered with a philosophy we call “The Next Level of Service”.
Many of our tax professionals joined the firm from Big 4 firms, where they worked with Fortune 1000 companies. They chose to join our firm because of our hands-on, participatory management style where we work to make a difference, and become the valued advisor to our clients.
Please click below to view our 2017 Tax Pocket Guide:
With the government shutdown over and the IRS reopened, what can be expected? Currently, the IRS has an estimated five million unanswered inquires that took place during the shutdown. Additionally, it is estimated that they have already received several million tax returns since the filing season started on January 28.
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The centralized partnership audit regime rules are now in effect and change the way partnerships are audited by the IRS. These new rules require the actual partnership to pay any deficiencies resulting from any audit adjustments. This means that the IRS will apply the top tax rates to any audit adjustments to calculate deficiencies, without regard to any partner level attribute that may have otherwise reduced the tax due from an audit adjustment.
With much of the rhetoric in Washington D.C. during the past couple of weeks over funding of the border wall and the current government shut down, employers still may have reporting requirements for 2018 under the Affordable Care Act (ACA). The Act requires insurers, self-insuring employers, and those employers with 50 or more full-time equivalents (FTEs) to report certain information to the IRS and Social Security Administration using forms 1095-B, 1095-C and 1094.
The IRS issued Notice 2019-2, updating optional standard mileage rates for business use of a vehicle.
The IRS released its proposed regulations on November 23 to include the increased basic exclusion amount (BEA) per the Tax Cuts and Job Acts (TCJA).